ANN ARBOR, Michigan — A veterinary pharmaceuticals company and cell-growth technology business were among three start-ups to receive micro loans through the Michigan Pre-Seed Capital Fund.
The state-backed fund is meant to support new companies in Michigan. Free Stride and RealBio Technology are splitting $137,500 in micro loans with green-battery maker Advanced Battery Concepts.
Free Stride, of Ann Arbor, will use the money to help commercialize PowerGait, an oral medication for racehorses that prevents shin pain and injury. RealBio, a Kalamazoo business, will develop its Nth Degree Systems, a tool that grow cells that can be better used to study human and animal tissue.
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The Michigan Pre-Seed Capital Fund, a collaborative effort of Michigan’s 15 SmartZones, is an equity fund that invests in technology-based companies to support business formation and acceleration. Each SmartZone is responsible for recommending an investment to the Michigan Pre-Seed Capital Fund review board. Ann Arbor SPARK serves as the Fund’s administrator.
